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You are here: Daily Dose
JWG to resolve issues between India and China
In the latest meeting of the India-China Joint Group on Economic Relations, Trade, Science and Technology, raised its concerns over widening trade deficit with China which flagged its worries on visa rules and duty hike on power equipment imports by New Delhi. According to the provisional data, the trade deficit of USD 39.65 billion was in China's favour.

The two countries agreed to set up a joint working group to resolve these concerns and strengthen economic cooperation. A Joint Working Group will be established soon and it will give its recommendations and assessments in 90 days.

China has assured India of addressing concerns over several issues, like adverse trade deficit, market access for Indian IT and pharma products. India also invited Chinese companies to invest in the proposed National Investment and Manufacturing Zones (NMIZs).

Both the countries have also agreed to work on a five-year plan on economic cooperation. This has been proposed by Chen Deming (the visiting Chinese minister). 

Indian Commerce Minister also expressed the hope that bilateral trade will achieve the target of USD 100 billion by 2015.
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